Jennison Associates LLC Has $32.70 Million Stock Holdings in Amphenol Co. (NYSE:APH)

Jennison Associates LLC cut its holdings in Amphenol Co. (NYSE:APH) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,906 shares of the electronics maker’s stock after selling 296 shares during the period. Jennison Associates LLC’s holdings in Amphenol were worth $32,704,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC boosted its holdings in Amphenol by 1.3% in the third quarter. FMR LLC now owns 55,500,422 shares of the electronics maker’s stock worth $4,661,480,000 after purchasing an additional 691,964 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Amphenol by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 15,279,911 shares of the electronics maker’s stock worth $1,283,360,000 after purchasing an additional 653,354 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Amphenol by 4.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 13,145,093 shares of the electronics maker’s stock worth $1,104,056,000 after purchasing an additional 564,110 shares in the last quarter. Flossbach Von Storch AG boosted its holdings in Amphenol by 1.9% in the third quarter. Flossbach Von Storch AG now owns 7,908,317 shares of the electronics maker’s stock worth $664,220,000 after purchasing an additional 151,058 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Amphenol by 6.0% in the third quarter. Northern Trust Corp now owns 6,195,739 shares of the electronics maker’s stock worth $520,380,000 after purchasing an additional 351,353 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Price Performance

Shares of NYSE:APH opened at $116.31 on Thursday. Amphenol Co. has a 1-year low of $72.00 and a 1-year high of $119.59. The firm has a market capitalization of $69.97 billion, a PE ratio of 37.40, a PEG ratio of 3.00 and a beta of 1.30. The business’s 50 day moving average is $111.48 and its 200-day moving average is $99.30. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, January 24th. The electronics maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Amphenol had a return on equity of 23.94% and a net margin of 15.36%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $0.78 EPS. Amphenol’s revenue for the quarter was up 2.7% compared to the same quarter last year. Sell-side analysts predict that Amphenol Co. will post 3.28 earnings per share for the current year.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.76%. The ex-dividend date was Monday, March 18th. Amphenol’s dividend payout ratio is 28.30%.

Amphenol declared that its board has approved a share repurchase program on Wednesday, April 24th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup upped their price target on shares of Amphenol from $117.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Robert W. Baird upped their price target on shares of Amphenol from $100.00 to $106.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upped their price target on shares of Amphenol from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. UBS Group upped their price target on shares of Amphenol from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Bank of America upped their price target on shares of Amphenol from $117.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and a consensus price target of $113.75.

Insider Activity at Amphenol

In related news, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $104.67, for a total value of $10,467,000.00. Following the sale, the chief financial officer now owns 147,045 shares of the company’s stock, valued at approximately $15,391,200.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Amphenol news, insider William J. Doherty sold 170,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total value of $17,595,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $104.67, for a total value of $10,467,000.00. Following the completion of the transaction, the chief financial officer now directly owns 147,045 shares in the company, valued at approximately $15,391,200.15. The disclosure for this sale can be found here. Insiders have sold a total of 305,000 shares of company stock valued at $31,846,050 in the last 90 days. 1.80% of the stock is owned by corporate insiders.

Amphenol Profile

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.